July 25, 2012 / 6:02 PM / 5 years ago

MGM files confidentially for IPO

July 25 (Reuters) - Movie studio MGM Holdings Inc has filed confidentially for an initial public offering, the company said in a statement on Tuesday night.

The company, which filed for bankruptcy in 2010, did not reveal any details about the offering.

MGM is working with J.P. Morgan and Goldman Sachs on the offering, according to Bloomberg News.

J.P. Morgan declined to comment, while Goldman Sachs could not immediately be reached.

MGM was a public company until 2004, when a consortium of private equity investors led by Sony took it private in a $4.7 billion transaction.

After it restructured in 2010 and eliminated $3.7 billion in debt, investors named veteran Hollywood producers Roger Birnbaum and Gary Barber to operate it.

The studio’s primary asset is a library of 4,000 films that include the rights to the “James Bond” franchise, “Rocky,” and “Rain Man.”

It owns a half interest in “The Hobbit,” which it is producing with Warner Brothers, and earlier this year co-financed “Jump Street 21” with Sony.

The studio is also producing other films based on movies in its library, “Robocop” and the horror film “Carrie.”

The filing comes amid a busy week for the U.S. IPO market. Seven deals are scheduled to price this week, including downstream energy limited partnership Northern Tier Energy and high end steak chain Del Frisco’s Restaurant Group .

Avast Software BV postponed its initial public offering on Wednesday night, citing market conditions.

Reporting By Olivia Oran

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